VeChain Announced its next generation Point-of-Authority

Sateesh Swaminanthan
I am a techsavy, otaku and Crytogeek. loves to talk and write about latest tech, new anime and happenings in Cryptosphere.
  • VeChain is a blockchain ecosystem focused enterprise that focuses on the enhancement of supply chain management by connecting blockchain technology with the real world.
  • VeChain recently published its first preprint on POA 2.0-SURFACE, which will solidify its title in the blockchain industry.
  • VeChain entirely focuses on the Security element of the consensus to satisfy the demanding security needs of enterprise users.

VeChain x PoA 2.0

VeChain is a blockchain ecosystem focused enterprise that focuses on the enhancement of supply chain management by connecting blockchain technology with the real world through comprehensive governance structure, advance IoT integration, and a robust economic model.

VeChain is known to be a pioneer of a real-world application using public blockchain technology.

VeChain recently published its first preprint on POA 2.0-SURFACE, which will solidify its title in the blockchain industry.

Dr. Peter Zhou, the Chief Scientist at VeChain and Dr. Zhijie Ren, the Senior Researcher on Blockchain at VeChain, published a preprint paper title “Surface: A Practical Blockchain Consensus Algorithm for Real-World Networks.”

The paper gave a glimpse of next-generation PoA (Proof of Authority) and referred to as the PoA 2.0-Surface consensus algorithm for blockchain networks.

The new consensus algorithm promises to be Use-case adaptive, Secure, and Relatively fork-free approach of the existing Chain extension.

The Pre-print was intended to introduce VeChain’s research on PoA 2.0-SURFACE to the public eye as early as possible, which will likely increase scholarly communication and creating awareness on the VeChainThor Blockchain’s unique business-friendly features.

What is PoA Surface

PoA Surface is a kind of blockchain consensus algorithm which enjoys benefits from both the Nakamoto Consensus and BFT (Byzantine Fault Tolerance) consensus. That results in achieving optimal throughput and latency performance most of the time while also guarantees uncompromised ledger consistency.

VeChain entirely focuses on the Security element of the consensus to satisfy the demanding security needs of enterprise users. To achieve better security, PoA 2.0-SURFACE adds a committee-endorsing mechanism that is equivalent to collecting more trailing blocks the same as a confirmation of Bitcoin without having to wait for the block intervals hence the speed is also gets increased while making it more secure.

The Collection of more trails also gives the advantage of the absolute finality of the transaction for the safety and accuracy of business practice. PoA 2.0-Surface will us Byzantine Fault Tolerance based scheme to allow blocks to be finalized after a relatively short amount of time so that the fork of that block gets impossible.

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